Allowed

Idbi Bank v. Sau. Bhimabai W/o Vithoba Khorde

DRT29 Jan 2026OA/283/2024

Case brief

AI extract

What is this about?

IDBI Bank Ltd. filed an original application for recovery of dues on an agricultural term loan. The borrowers and guarantors failed to appear. The Tribunal upheld the claim, allowing future interest at 7% per annum, secured by the mortgaged agricultural land, and directed the issuance of a Recovery Certificate.

What did the court decide?

Recovery of Rs. 22,28,918/- plus future interest at 7% p.a.; Plaintiff entitled to sell mortgaged property and issue Recovery Certificate.

Idbi Bank versus Sau. Bhimabai W/o Vithoba Khorde — Contract and Commercial Disputes | DRT (2026)

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Presented on: 16.09.2023 Registered on: 19.04.2024 Decided on: 29.01.2026 Duration: Y M D 02 04 13

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD

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(Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No.283/2024

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TOTAL CLAIM AMOUNT – Rs. 22,28,918/-

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IDBI BANK LIMITED.,

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A banking company incorporated and registered under the Companies Act, 1956, and a company within the meaning of Section 2 (20) of the Companies Act, 2013 (18 of 2013) and a banking company duly … Applicant registered, within the meaning of Banking Regulation Act, 1949, and having its registered office at IDBI Tower, World Trade

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Centre, Complex, Cuffe Parade, Mumbai-

(OA No.283-2024)

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[Ambadas]

400005 and through one of its Branch at Takali Kazi, Grampanchayat Building, First floor, Gaothan, Village Takali Kazi, Tq. & Dist. Ahmednagar, Maharashtra- 414201. Through its Authorized Signatory Mr. Vijaykumar S/o Tukaram Nichit, Age: 41 Years, Occ: Service as AGM Recovery in Applicant Bank. Email: [email protected]. Mob: 9096338787.

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Versus

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Sau. Bhimabai W/o. Vithoba Khorde, Age: Major, Occ: Agri & Household, R/o: At Post Sulema Deola, Tq. Ashti,

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… Defendants

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Dist. Beed- 414202.

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And also; Gut No. 105/AA/2, At Village;

(OA No.283-2024)

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[Ambadas]

Suleman Deola, Tq. Ashti,

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Dist. Beed- 431714.

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Mr. Ankush S/o. Vithoba Khorde,

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Age: Major, Occ: Agri,

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R/o: At Post Sulema Deola, Tq. Ashti,

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Dist. Beed- 414202.

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Mr. Satish S/o. Rambhau Ghodke,

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Age: Major, Occ: Agri,

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R/o: At Post Sulema Deola, Tq. Ashti,

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Dist. Beed- 414202.

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Mr. Dnyandeo Gajanan Ghodke,

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Age: Major, Occu: Agri,

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R/o: At Post Sulema Deola, Tq. Ashti,

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Dist. Beed- 414202.

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APPEARANCES

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For the Applicant For Defendants

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Mr. Pathak Anirudha S- Advocate Ex-parte

(OA No.283-2024)

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[Ambadas]

J U D G M E N T

Delivered on (29.01.2026)

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The Applicant Bank has filed the present application for recovery of the sum of Rs. 22,28,918/- (Rs. Twenty-Two Lakhs, Twenty-Eight Thousand, Nine Hundred and Eighteen Only) together with interest upon Term Loan and LNXP account from 26.07.2023 till the full realization of the entire dues and costs from the Defendants.

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Brief facts of the application are as under:

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That the Defendants approached the Applicant Bank and requested for the sanction of a Agricultural Term Loan facility. Upon considering the Defendant’s representation, request, and financial needs, the Applicant Bank sanctioned to defendant No. 1 & 2, Agricultural Finance Scheme Term Loan facility of Rs. 10,00,000/- for irrigation agricultural activities vide sanction letter dated 28.08.2015 on certain terms & conditions.

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The agreed rate of interest for the Agricultural Term Loan Facility was @10% per annum with monthly rests.

(OA No.283-2024)

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[Ambadas]

In order to secure the aforesaid Term Loan facility, the Defendants executed loan documents in favour of the Applicant Bank namely sanction letter, demand promissory note, request letter, hypothecation agreement, letter of undertaking, equitable mortgage etc.

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The Applicant Bank contended that the Defendant No. 1 is the principal borrower and Defendant No. 2 is co-borrower and Defendant Nos. 3 & 4 are the guarantors of the said loan facility. The Defendant Nos. 1 and 2 executed a Hypothecation-cum-loan Agreement dated 28.08.2015, a Common Guarantee Deed dated 28.08.2015, executed by Defendant Nos. 3 & 4 and a Registered Mortgaged Deed bearing day book No. ATB/2553/2015 dated 28.08.2015 executed by Defendant No. 1 of the following immovable property in favour of the Applicant Bank:-

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All the piece and parcels of land i.e. Agri. Land at Gut No. 105/A/2, admeasuring area 2 H 44 R, situated at Suleman Deola, Tq. Ashti, and Dist. Beed.

(OA No.283-2024)

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[Ambadas]

The Applicant Bank further contended that the Defendants failed to keep their promises and commitments agreed by them with regard to the due repayment of the loan amount. The Defendants failed to operate the loan account properly and failed to pay the agreed rate of interest as per terms and conditions of the sanction letter. Thereafter the Applicant Bank repeatedly made demand of loan amount and called upon the Defendants to pay with the agreed rate of interest thereon, but the Defendants failed and neglected to pay the same. The loan account of the Defendants became irregular and classified as NPA. The defendant executed debt cum revival letter and revival letter dated 20.08.2018 & 10.08.2021 in Term Loan. Therefore on 16.11.2018, the Applicant Bank issued loan recall notice and guarantee invocation notice dated 05.01.2019 to the Defendants through their Advocate. Despite service of Notice, the Defendants failed and neglected to repay the outstanding dues of the Applicant Bank. Hence, this application is filed.

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The Defendant Nos. 1 to 4 has been served through Court Commissioner. Despite service through court commissioner, the

(OA No.283-2024)

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[Ambadas]

defendants neither appeared nor filed WS. Hence, they proceeded ex-parte vide Order dated 10.03.2025.

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The Applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Vijaykumar S/o Tukaram Nichit, AGM Recovery of the Applicant Bank and has produced on record the original loan transaction documents as Annex. A-1 to A-12 along-with list of documents Exh.5, which corroborates the case of the Applicant Bank.

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I have heard arguments of the learned Advocate for the Applicant Bank.

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Since the Defendants failed to appear and contest the application, I find no reason to disbelieve the unrebutted evidence of the Applicant Bank. Therefore, the Applicant Bank is entitled for the reliefs as claimed.

(OA No.283-2024)

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[Ambadas]

The Applicant Bank has claimed future interest at @10% per annum with monthly rests from 26.07.2023 till the full realization of the entire dues and costs from the Defendants. However, considering the facts of the case, I am of the opinion that awarding future interest at @7% per annum (simple), it would be just and reasonable.

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Hence, I pass the following order.

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ORDER

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(A) Original Application No. 283/2024 is allowed with costs.

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(B) The Defendants shall pay Jointly and Severally to the Applicant Bank a sum of Rs. 22,28,918/- (Rs. TwentyTwo Lakhs, Twenty-Eight Thousand, Nine Hundred and Eighteen Only) along-with future interest at @7% per annum (simple) from the date of filing of the Original Application, i.e., 16.09.2023, till full payment/ realization of the said amount.

(OA No.283-2024)

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[Ambadas]

mortgage of immovable property in favour of the Applicant Bank vide document as Annex. A-6 in list of documents Exh.5. The mortgaged property is described as follows:

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All the piece and parcels of land i.e. Agri. Land at Gut No. 105/A/2, admeasuring area 2 H 44 R, situated at Suleman Deola, Tq. Ashti, and Dist. Beed.

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(D) The Applicant Bank is entitled to sell the mortgaged immovable property and hypothecated articles/goods etc., to recover its dues.

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(E) Issue Recovery Certificate accordingly.

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(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and Defendants.

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(G) File be consigned to the record room.

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Sd/-

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(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

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Place : Aurangabad Date : 29.01.2026

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(OA No.283-2024)

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Page 9 of 9

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[Ambadas]

Idbi Bank v. Sau. Bhimabai W/o Vithoba Khorde

Case brief

What is this about?

What did the court decide?

Idbi Bank v. Sau. Bhimabai W/o Vithoba Khorde

Case brief

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What the court decided

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